Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), investigates the integration of Circle’s Stablecoin products – USD Coin (USDC) and US Yield Coin (USYC) – Across are financial infrastructure.
According to a March 27 announcementThe initiative will investigate how these stablecoins can be integrated into the fairs of ICE, cleaning up activities and data platforms for the market.
USDC, Circle’s flagship Stablecoin, recently crossed the $ 60 billion in market capitalization, making it the second largest Stablecoin worldwide after Tether’s USDT.
The actively supported by reserves managed via the Circle Reserve Fund, a Government Fund Fund registered with the US Securities and Exchange Commission.
Since the launch in 2018, USDC has grown to support hundreds of millions of portfolios and serves a wide range of use cases – from facilitating crypto -trading to making seamless global payments and the preservation of dollar value in digital form.
ICE also investigates Circle’s UYC, a newer tokenized assets with a yield of 3.8%. UYC is reverse Due to the short-duration of American Treasury Securities and Repo-related instruments. It Coming from Hashhnote, a crypto platform circle that was taken over earlier this year.
Lynn Martin, president of the NYSE, expressed optimism about the growing role of regulated digital currencies in traditional finances. She noted that assets such as USDC and UYC can offer efficient, reliable alternatives to conventional Fiat in institutional markets.
Institutional interest in stablecoins is increasing
The movement of ICE illustrates the growing interest of older financial institutions in Stablecoins, especially when the regulatory landscape starts to shape.
On March 26, American legislators introduced a milestone Stablecoin Bill to formalize digital dollar issue standards.
The proposed legislation requires that Stablecoin-emissioners are approved as banks, licensed non-banks or the state regulated entities.
With monthly reporting and audits, these tokens must be supported one on one with cash or a low risk of government resources. The Regulation also prohibits two years of algorithmic stablecoins and limits the use of foreign spent tokens unless they meet American regulatory standards.
This regulatory level of clarity seems to attract traditional financial institutions that started exploring the sector.
Tether CEO Paolo Ardoino emphasized this in a recent X post, proverb:
“A new era starts: the Stablecoin Multiverse. Hundreds of companies and governments are launching (or will soon) launch their stablecoins.”
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